India Rupee at Three-Month Low as Oil Spikes on Mideast Conflict
The Indian rupee weakened to its lowest level in three months, as a surge in oil prices underscored the nation's vulnerability to energy shocks.
The currency fell 0.4% after declining as much as 0.5% to 86.8875 per dollar, the lowest since March 17. The decline mirrored losses in most other emerging Asian currencies. Sovereign bonds also fell, with the yield on the 10-year bond rising by four basis points to 6.30%
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